Between the Russian organization (buyer) and the American company (seller), a contract of sale is concluded. During its execution, disagreements arose between the parties. The parties did not determine the applicable law, but recorded in the contract that “all disputes from this contract are subject to consideration by the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation in accordance with the Rules of Procedure of this court”
Define the law applicable to the substance of the dispute and the procedure for its consideration. Could the dispute be the subject of consideration in the state arbitration court of the Russian Federation? Under what conditions?

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